Deloitte global revenues up 7.6% to US$ 35.2bn

12 October 2015 03:55 am Views - 2889

by Chris Warmoll 
AccountancyAge - Deloitte has reported global revenues of US$ 35.2 billion (£22.7billion) for the year ended 31 May 2015, a 7.6 percent uplift on the previous year.

The Big Four firm enjoyed growth across all of its core practices, industry sectors and geographic regions. Some US$18.3billion was generated in the Americas, while US$11.9billion was drummed up in EMEA, and a further $5bn was earn in Asia Pacific. 

Its most lucrative division was consulting at US$ 12.2billion globally, narrowly beating audit at US$ 9.8billion with tax and legal business amassing US$ 6.7billion. Meanwhile, EY recently posted 11.6 percent growth in revenues, 
to US$ 28.7billion.

“Deloitte’s strong financial performance reflects the success of our multidisciplinary model, which drives the delivery of innovative world-class audit, consulting, enterprise risk services, financial advisory, and tax & legal services, and creates an environment where the world’s leading practitioners thrive,” said Punit Renjen, Deloitte Global CEO. 

The firm said it had made significant investments across all its offerings – such as US$ 500 million in “advancing audit quality”, which included more than US$ 100 million in innovation to “continue to transform the audit and deliver value to the capital markets”.

Deloitte’s global workforce now stands at more than 225,000, with some 62,000 new recruits being added this year alone. In February, David Sproul was re-anointed as senior partner and chief executive of Deloitte UK by his fellow Deloitte partners for another four years.

Since his original election in June 2011, sales at the firm have increased by more than 20 percent to £2.5 billion, while employee and partner numbers have risen by 10 percent to 14,000. Sproul, a fomer partner at Enron auditors Arthur Andersen, has vowed to double the firm’s annual investment budget to over £80 million, equivalent to more than 10 percent of current profits.

SJMS Associates represents Deloitte in Sri Lanka as an independent correspondent firm that provides services that assist the growth and competitiveness of businesses, including Assurance and Advisory, Tax Advisory, Consulting, Restructure and Corporate Recovery Services.